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France Released Strategic Fuel Stocks In March Amid Strikes

OIL

France released strategic stockpiles of oil products this month as the latest round of strike action over pension reforms disrupts the nation’s fuel distribution network.

  • French authorities have released about 200,000 cubic meters of petroleum product since last week, according to a person familiar with the matter. That’s about 1.25mn barrels, roughly five times the nation’s daily gasoline consumption.
  • France is seeking to avert a repeat of last year’s walkouts which resulted in filling stations running dry as oil refineries stopped producing diesel and gasoline, and protesting workers blocked distribution depots.
  • According to France’s Transition Ministry, the nation has released strategic stockpiles in a targeted manner since the start of March. It has asked airlines to preserve jet fuel reserves, which can be done by refuelling aircraft at airports outside France.
  • The French government forced a handful of workers to unblock fuel shipments from the Fos depot to alleviate a shortage in the south of France and to supply the Lyon region by pipeline.
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